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the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
. >> if you give a mouse a cookie he will probably want a glass of higher taxes that is my theory. we're just seeing a hit to our paychecks because of this year's tax increases. now the president says we need to give him even more. we'll tell you how bad it could get. >>> u.s. gas demand has slipped to the lowest level in years but is it really because of fuel-efficient cars or could it be so many people out there are out of work they can't even afford to pay at the pump? we'll get to the truth behind the numbers. even when they say it is not it is always about money. melissa: all right. here's today market moment. mixed economic data led to a choppy trading session for stocks. the dow rallied for a fifth straight session, closing up 27 points. another day for dell shares. fox business's charlie gasparino, silver lake partners, private equity firm is in advanced talks to buy out the company. facebook unveiled a new search engine called graph search. it hopes to revolutionize how users find thinks on facebook. for example, a guy could ask who among my friends doesn't have a girlfriend, lives i
with this economic reality. you know what? my constituents are going to pay for it in their taxes. what no one seems to want to talk about in the media. yes, congress will pass an emergency bill and exceed the spending cap congress voted on and then your taxes will be the makeup for that because there is no other place to get it from. >> neil: i admire your guts to stand up to the likes of chris christie, who said, quit playing games and pass the aid. you are saying, we are playing game fist we pass this kind of aid. >> chris christie is a great governor. he's right. the emergency aid nides to be there, the money that will go to the local community, which is about $17 bimmion of this $50 billion aid package. so we bailed out the fema relief insurance fund. okay? we know that that has been operating at a deficit. it's still in the red right now. this is going to prolong the agony. if we don't fix the core spending problem, we are not going to have money for another disaster. >> neil: i suspect they won't. they have taken some of the fat out. but i am talking in terms of million, not billions. >> mill
, opportunity fund. excuse me. but just know that our office, we are in city hall in the tax and treasurer's office, and our office is www.sfgov.org/osb. we have some information on that. if you did not get one of our small business booklets and you want one, please take my card, e-mail me, and we will mail you one as well. immigrate. thank you, regina. for those of you looking to contact these organizations, you can find their contact information in the program you should have picked up when you sign in. for those of you who are prospective entrepreneurs, if we could limit the acronyms and talk more about what those acronyms mean. >> sounds good. thanks, mark, virginia, and leader pelosi for putting on this event, and for all that she has done -- thanks mark, regina , and later pelosi. we have been able to access resources through the sba and the cdfi fund which helps get money to small businesses in this time of need. opportunity fund is not a bank or a government agency. we are an independent nonprofit organization with a mission to provide capital to working people to help them earn, s
social for media. next, california led the way to tax cuts. now it's leading the way to tax hikes and a budget surplus. mitch mcconnell. can you hear me now? the natural energy of peanuts and delicious, soft caramel. to fill you up and keep you moving, whatever your moves. payday. fill up and go! at cepacol we've heard people are going to extremes to relieve their sore throats. oh, okay, you don't need to do that. but i don't want any more of the usual lozenges and i want new cooling relief! ugh. how do you feel? now i'm cold. hmm. this is a better choice. new cepacol sensations cools instantly, and has an active ingredient that stays with you long after the lozenge is gone. ahhh. not just a sensation sensational relief. who is this? that's pete. my... [ dennis' voice ] allstate agent. a "starving artist" has an allstate agent? he got me... [ dennis' voice ] the allstate value plan. it's their most affordable car insurance and you still get an agent. [ normal voice ] i call it... [ dennis' voice ] the protector. is that what you call it? the protector! okay. ♪
will you join me in my thinking our panelists. [applause] representative live in discusses tax policy and deficit reduction. he spoke at the briefing today hosted by the christian science monitor for an hour. >> thanks for coming. i'm dave cook from the monitor. welcome to the first breakfast of the new year. the guest is representative sander levin of michigan cranking member of the house ways and means committee. this is the first visit of the group. he did for deily to detroit native and the university of chicago, master's and international relations of columbia and a law degree from harvard who was elected in the michigan state senate in 1964 and served as a senate minority leader during the carter administration he was assistant administrator of the agency for international development elected to the house in 1982. for four years after his brother carl was elected to the senate. in march, 2010, representative levin one the gavel of the chairman of the ways and means committee. in the biographical portion of the program now on to the thrilling portion. as always we are on the reco
it on your social for media. next, california led the way to tax cuts. now it's leading the way to t t t t t t t t t t t t t t t t t t t t t t t t t t t t before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 10 times more protection with each hand wash... and kill 99.9% of germs around the house with each spray... those healthy habits start to add up. this season, a good offense is the best defense and lysol has your family covered because that's our mission for health. >> john: four years ago california was in a state of near financial ruin. after six years after the governator they hit a high of $42 billion in 2009. shocking after the voters of california decided to entrust their economy to an austrian weightlifter. but as governor jerry brown begins his third year as governor he announced that in the next fiscal year california will have a surplus of $851 million. so from a negative $42 billion to a positive $851 million in under four years. john boehner, can you hear
taxes as the most important issues facing american small businesses and that's double the response for any other issue. the next two were government and relagz. in other news, walmart will announce a plan to hire every veteran that applies for a job. the only requirement? the vets need to have retired from the military within the last year. >>> the house will begin to debate on a $51 billion plan for superstorm sandy victims. more than 90 amendments will be filed by friday. earlier this month, lawmakers approved $9.7 billion to help pay flood insurance claims from the storm. the senate is expected to pick up whatever legislation the house approves, but things are getting testy at this point. you are talking about over 75 days i believe at some point since the storm actually came through. governor chris christie of new jersey has been making harsh comments about how you will not expect in the past of seeing any of the representatives from this area of the country who were voting down bill toes help aide flood and victims in iowa. he doesn't want to see breaking down into you scratch
down on income tax evasion by higher earners. the party is planning to make the issue a top campaign topic in the national elections that are taking place letter -- later this year. >> they have been meeting and they and build that plant, which even some inside the party say will not raise -- been meeting and they unveiled that plan, which even some inside the party say will not raise support. >> the social democrat challenger for chancellor says this must stop. >> if the vast majority of german taxpayers feel as if they are the stupid ones for being honest about paying taxes, it begs the question how just is the system in this country. >> the social democrats are calling for a number of measures, including rescinding the licenses of banks accused of systematically helping tax dodgers. they want to create a central authority to investigate tax fraud and harmonize procedures across the federal states. they also want to extend the statute of limitations on tax crimes. they want to improve coordination in europe when it comes to issues like exchanging information. angela merkel's christ
of state services like health and welfare, a limit on property taxes, plus republican legislators' refusal to raise taxes created a dilemma in the world's ninth largest economy. with budget cuts coming like clock work, the state's college and university systems declined in offerings and in reputation. schools suffered cutbacks in personnel and programs. services for the poor were trimmed by $15 billion since 2008. state workers were furloughed. then in 2010, promising to use his long honed political skills to fix the state, jerry browne, a democrat, was elected governor. 30 years after he held the job in the '70s. he faced a $26 billion deficit and started making more cuts and changes like transferring inmates from the state's overcrowded prisons to county jails and closing down local redevelopment agencies using the money for the state budget. meanwhile, the economy started to improve in fits and starts bringing in more tax revenue. but it all wasn't enough. brown proposed to california voters a measure to raise income taxes on the wealthy and sales taxes for everybody. to the feun of $5.
. following up to that, can you give any advice on particular resources that would speak perhaps to any tax benefits, subsidies in place for both domestic distribution of wine, as well as exports? >> why don't we take it off line. i think what is the case, there is a lot of complexity to the incentives that were put into the jobs act for small businesses to take advantage of on expensing equipment, investments and their businesses, as far as the tax treatment of those activities. obviously, as a small-business person, each of you needs to understand, it is complex, but there are a lot of tax incentives and investment in business that you should take aware -- advantage of. >> we have two questions in the back. just to be mindful for everyone's time, we will go for about five more minutes. >> my name is david. i am an internet or entrepreneurs. in general, to the lenders, what type of vanity do you traditionally see approach you for loans, an llc, corp., and who is liable, for whose borrowing the money? >> as a micro lender, we expect the principles, the corporate form, to provide guarantees.
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
because he's not going to do that. asking barack obama to not be a big spending high taxing liberal liberal, this is what we'll do we'll pass a year-long continuing resolution or national security, we'll pass a very short term continuing resolution for the department of labor, the department of housing and urban development, the department of the interior. there are dozens of places you can dramatically change spending without having to get involved in general crisis over the u.s. debt. >> mr. speaker i want to get your take on gun control, because as you know vice president biden is going to be delivering some 19 different recommendations to the president. also there is some controversy over the fact that the nra released a new itunes app that offers shooting practice and can be for children ages 4 years old plus. what do you think about that? >> we're having the discussions about gun control, over 500 people were killed in chicago last year the president's hometown. vice president biden doesn't want to go there, i'm trying to get the house to hold hearings
on your debt. well we have 2 1/2 trillion dollars coming into the treasury every year in tax revenue. we can use that tax revenue to pay the interest on our debt. therefore, we will not default. all this talk about being a deadbeat nation, that belies the fact that we have never, and will never default on our obligations. the obligation being to pay the interest on the debt. we're not a deadbeat nation and we're not going to default, period. yes. period. martha: comes down to the big question whether or not you will cut spending in order to not default on your debt. and that brings us to a larger question or one of the larger questions, which is whether or not we will be downgraded if we don't become more responsible with our spending? >> interesting you should raise that issue, martha, because 45 minutes ago, fitch, the ratings agency said, if we have another delay in raising this debt ceilingsing, if we have this political standoff again just like we had in 2011, fitch says we may be downgraded. his name is david reilly. he is managing director at fitch and he said if it is just like 2
give a tax credit to any one who would turn in what lawmakers are calling an assault weapon and also another measure aimed at creating the overall bigger picture of mass violence. >> at the news conference the president accused republicans of trying to collect a ransom in exchange for not crashing the u.s. economy. they are demanding more spending cuts before they agree to raise the nation's debt ceiling. the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really mig
authority is necessary. but there are some others. >> guest: some other examples. let's take corporate tax. it seems likely there will be a year long debate about corporate taxation here in washington in 2013. most businesses are global in some respect. not all but most big businesses for sure. if you're a big business and you look over to champion you'll -- over to china, you'll see promises to have 15% corporate income tax rate. you come the united states, you have no predictable, don't know what it is, and the current rate is much, much higher than that. we need reforms that say to businesses, we want you to invest here in the united states. while we're having this big debate about corporate tax reform, let's include in it specific reforms for the energy sector that in fact are designed to attract a maximum amount of new investment to build a clean energy platform let's have it by a subpart of the corporate tax reform debate. another example? the carbon tax. the carbon tax is a broad-based tax that does not in fact have to have a big impact on consumers. it could be placed on electric u
and said it much better than i will, in fact, maybe if you had it on tape, we'd show it. but tax policy and trade policy. obviously, as the recession hits the world, why, trade policy gets more difficult. and we have troubles getting products into two of our most fast-growing markets, in argentina and brazil, which we could use some government help on keeping those markets open. and, of course, the big one is tax policy. we have the highest corporate tax rate in the world. so that mark barker who is now the ceo of the company and for a young whippersnapper of 55, he's doing a great job, but that he sits every year when he sets the budget, and he has to decide where the last dollar of investment goes. and where it generates the last dollar of profit. so he could get a dollar of profit in the united states for which 60 cents goes out to the shareholder, to the ultimate shareholder. or he can get another dollar, he can get that dollar profit in timbuktu of which 75 cents comes to the average shareholder. so any global company can maneuver around it, procter & gamble does that, i'm sure, be
taxes, slightly more because, slightly more costlier and all of that is caused the economy to government economic -- we have an ability to withstand more that independent than they do, but it's with the same effect. government can't necessary great economic growth but it can create the conditions for which the economies grow. we need understand that's vitally important. so today, look where we are, and you can see that the economy has been in recovery. household net worth has recovered almost pre-recession levels. the economy is almost pre-recession levels. we've added 4.5 million jobs, that still means we afford to go to get back to pre-recession. unemployment rate has dropped to 718%. not enough. housing sector is recovering, we are in the process of a slow steady recovery. the problem is that at about 2% is probably not enough to reduce unemployment measurably from there measurably from your and giving up of 2% is a vital. so that's what we're going to talk about today. i'm very, very hopeful we can do that. we are creating conditions right now to increase economic growth in the priva
not have much time. >> yes, we do. >> i pay my taxes, and i demand the right to express myself so people can hear what i have to say. >> of course. but we have invited you here for a discussion. >> you want an argument. >> the founder of an international car supplier demands respect for the jobs he has created any money he has generously donated, but he does not care to mention his many failed enterprises, the austrian subsidies he has received, or the fact that he pays a good portion of his tax abroad. he pushed for a training program for future ministers and a refuge for those who have been booted out. experts do not think much of his current manifesto. one policy is to introduce national bureaus with differ exchange rates depending on the financial situation of the respective countries. >> he wants a flat tax, what he calls a fair tax. he wants to tighten the law for asylum seekers. there are a lot of issues that he stole from the 1990's. >> the similarities to not end with policies. five mp's from the alliance for the future of austria have already joined him, sending his party strai
used to be a line item in the budget, but you recall a couple of years ago there was a gas tax swap, a complicated maneuver to ensure that transportation funds continued to flow. the result is that the state transit assistance is now based on the details sales tax receipts. that is a fluctuating amount of money and therefore we only rely on the projections over the course of the year. so far it looks pretty good. the other big news is that the state is looking pretty good. troop prop 30 passed, significant dollars in projected revenue. so i think we find ourselves in a cautiously optimistic time. we'll be following that as the year unfolds. we participate in that process through various trade associations and our meeting, in fact, next week with the commit staff working on the bill to have california's law conform for the federal law. cap and trade another very large statewide issue. san francisco as a city family is engaging on that through our advocacy, our lobbyists, as well as the league of cities, california state association of counties and others who have an interest in maki
as a tax deduction. any money that if you have taken can be applied as a tax deduction. this can be done on an annual basis. next, the opportunity, and a fund -- opportunity loan fund, providing for small businesses to pay for the inspection or to make improvements needed. to do it before you receive the lawsuit. and lastly, we of the bar association and their resources. they're providing their legal service for you. this last thing i am going to share with you in terms of what we have seen in our office is that with the individuals, that does not necessarily mean an individual will follow up with a lawsuit. what we've seen in our office is the individual's will send you a letter and say there were compile -- compliance issues. where people get in trouble is they ignore the letter. we need to make sure it that your pro-active and responsive. when a business receives a letter, they need to contact our office. the merchants of been very proactive -- have been very pro- active. the businesses that have received a letter and passed an inspection after receiving the letter have staved off a l
that dividend taxes were going to go up dramatically. even down to the last day of december. you come in, dividend taxes barely go up. i find that, like facebook, which we're going to talk about in a moment, we're not really privy to what's going on. it kind of drives me crazy. we're in a democracy and you're supposed to know. but i do feel that when i look at spain, when i look at france, when i look at germany, i look at the united kingdom they do not get caught up in this kind of wrangling. they are better governed nations right now. >> that's easy to say, i guess, when your comparison seems to be what is a completely dysfunctional congress at this point. jim, how do you go about trying to gauge how to even play this? you look at what happened over the end of the year, the fiscal cliff. and at the end of the day you might take away, well, they did get something done and the markets reacted positively. look at the rally in the first week of the year. do you approach it the same way? it seems to be to a certain extent we're not ignoring it, but at least saying i'm not going to -- >> i d
legal status pay fines and back taxes. can you support any of that? >> oh, all of that is well worth looking at very carefully, and that is exactly what we will do. republicans in the house are very enthused about doing immigration reform this year as well. how much we can do will depend upon how much we can find in common with our friends over in the senate and with the white house and our colleagues here in the house. gerri: congressman, what i ask you was to mckinney's support those three specific ideas? >> those threes the severe ideas are all things tht if done correctly we can find a way to support some of them. obviously the one that are the most difficult is somewhat of is illegally in the u.s. yesterday, we have to find some way to do this. every talking about a renewed bout of the status -- shadows of having illegal status i think there's a lot to discuss. as the giver talking about athleticism chip the american people are going to want to know i'm not -- a lot more about how we're right to prevent this type of illegal immigration in the future. gerri: a great point because
, calling for new revenues and 30% believe tax hikes are needed now and support for the president's position there ended. stuart: excellent, well, not excellent, but thanks for the informati information. [laughter] >> thanks for the information, scott rasmussen, good stuff. time for the gold report, where are we this morning? the dow is down 30. we see gold up 9 bucks, 1679 is where we are for gold. lance armstrong comes clean and he says he wants to compete again and he might rat out others to do it? whoa. sandra smith, brian, they're here, will they forgive, forget, and give him a second chance? i would not, but would they? that's next. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ if it makes you happy, it can't be that bad ♪ >> and that's-- well, lance armstrong admit today what many people speculated for many years, he lied and cheated. the seven time tour de france winner, stripped
as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today. the president is standing back and think i am not negotiating on this and the republicans are all over the map. >> i do not think that this is a big deal. i do not see that as a big issue. what is coming out of this weekend retreat is far more important. connell: i would like to be a fly on the wall for that. >> also what is important is to remember how we got here. he has run trillion dollar deficits for the past four years of his administration. you have to pass a budget in the united states senate. he will be doing his sort of constitution getting a budget up to the congress. this is a challenge. we have to have a clear look at how we can reduce spending in this country. connell: whenever the limit is actually reached and it is not raised. then you start to play the political blame game. pay some bills and not others. though
's not as big as it was. the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary c
a report on this item a group allocation memo of prop k sales tax funds as well as prop aa the vehicle registration funds. >> i will present the first item and courtney will present the last three items. this item begins on page 19 of your packet. we have five prop k requests and prop aa request is link to one of the prop k requests. we adopted a five-year plan. this project are in compliance with the five-year plan except with the -- funding. we have to find funding for the conceptual engineering part for that. prop aa program we adopted strategic planning for those funds. expected leveraging, page 25 and 28 go through brief descriptions of the requests in our recommendations. the first two requests are part for the one ba area grant. we are not entering the project development phase, increasing project readiness. all the project are addressing cost issues, engineering issues, immediate support, environmental issues to make sure we have the strongest project to go through the federal funding cycle. we are the january to april time frame. in february, cac march plans and programs
debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was up 16%. that was the biggest year over year increase in u.s. oil production since 18 at which just happens to be when we started producing oil so if we think about what's going on. we have right now -- right now we produce oil at 80%, the same price the rest of the world does. we produce natural gas at 25% of the price the rest of the world does. we have cheap energy here in the united states and we feel that will drive manufacturing back to the united states, create jobs, and when all this political stuff is over, that's going to be a big story that we'll talk about ten years from now. >> these ar
a smaller. that is because the payroll tax holiday is over as part of the economic stimulus plan. all americans sought a 2 percent cut in their social security payroll tax was dropped from 6.2 down to 4.2%. that tax cut was not renewed by congress of the tax credit back to where it was in 2010 so expected to 82% last in your take-home pay. >> we have some changes in the forecast here is erica. >> that is right it will get warmer as we transition into the weekend. we really does have to get through this morning because it is a cold start. it will be warmer this after no but let's look at some of the cold spots and the bay area. this entire list includes temperatures in the '20s. about zero is 27 degrees, 28 for vallejo in fairfield. concord 29 and to address will continue to drop because these are not even your morning lows. around sunrise are around 730 this morning freeze warning and frost advisory are in effect from the national weather service. i don't think eyes as much of a factor today because the air is so dry. there's no moisture to talk about. it will be a cold one but i do n
no more tax increases, none. well that's starting from a position of not negotiating. because you can't have entitlement changes without more tax changes. >> rose: yeah. let me turn to gun control watch. dow expect vice president bidetone suggest to the president tomorrow, majer? >> well, several things, charlie. i think he's going to say what the president has already said. he wants to reinstate the assault weapons ban, first put into law in 1994, set on a ten year sunset, was not renewed when it expired. a if you ban on the large capacity ammunition clips, those magazines that hold more than ten bullets, sometimes up to a hundred. and some type of beefing up of the mental health and criminal background check system, currently it applies only to federally licensed firearms dealers. some gun shows don't have all those dealers there and private sales aren't covered. that is a very difficult thing to do from a gun registry and absolute data sealed off sort of way to approach that. the nra has some very strong objections and members of congress might be skeptical rather to a complete req
it in tax cuts for billionaires and millionaires, they spent it in the iraq war afghanistan, the great majority of this money was spent by george w. bush. now i'm going to make them pay the bill. i would turn it around on them. that's good. very strong language. we hope he sticks to it, we'll look at that in a minute. >> obama: congress has not been able to identity identify $1.2 trillion that they're happy with. they don't want to cut defense. >> cenk: that's true. hey, man i'm perfectly happy to do that. let's go to michael shure. the language is good. the frame something good. it seems strong. excuse me if i'm a little skeptical that he won't negotiate over the debt cerealing. >> you're excused for being skeptical, you're fine. you have every reason to feel that way although i think the way he handled the fiscal cliff was a departure--i think he bent over a little bit less than he has in the past in terms of going back on what he said he was going to do. he got americans to--wealthy americans to pay more in taxes. not the specific $250,000, quarter of a million. >> when we came to t
is smaller. that is because the payroll tax holiday is over as part of the economic stimulus plan. all americans sought a 2 percent cut in their social security if payroll tax. this drop from 6.2 social security if payroll tax. [ male announcer ] subway has so many heart-healthy and delicious meals certified by the american heart association. look for the heart check on your favorite subway fresh fit meals, from the tempting turkey breast & black forest ham with spinach to the protein-rich roast beef, and more. all five grams of fat or less. try 'em with juicy, ripe tomatoes, cool cucumbers or crisp green peppers. start your new year right with a heart-healthy meal at your neighborhood subway today. subway. eat fresh. new jobs are here, and by 2025, we could have millions more that demand qualified college graduates. many in the bay area. at devry university, our market-responsive bachelor's and master's degree programs can give you what you need to succeed in today's careers and the ones on the horizon. get the know how you need for a new tomorrow at our 4 bay area locations, online o
that fiscal cliff deal where dividend taxes just went to 20%. a lot of upset and anticipation that it would go higher but 20% is a great number. >> exactly. >> steven hammer, setting some highs of the day right now. you're bullish at least for the short-term here, how much higher do you go? >> i have no doubt in the next six months. we could potentially see anywhere from a 5% to 10% increase in the u.s. stock market, but we need to be cautiously optimistic, and to us it's all about earnings and it's all about volatility which is why we wait based on risk, and investors need to be cautious to where they invest money and they still need to stick with quality. >> okay. hank smith. what's going to take us to these new highs, do you think? >> well, look, i think we've seen in the beginning of this year finally some money coming out of bond mondayfunds going i equity funds. for five years it's been just the opposite so perhaps we're at the very beginning of what could be a very powerful trend providing a ton of fuel to the equity markets, and we agree. look, dividends are still very attractive, as l
of hasandy aid bill up for a vote. xlees with tax breaks for rum distillers? i need a drunk. >>> i'm kry is tal ball. are we turning our kids in to narcissists? >>> a dope. lance armstrong comes clean to the queen of talk but who needed the interview more, lance or oprah? >>> i'm shooting straight coming to guns. ready, aim? "the cycle" is on fire. >>> the house is back and getting serious about the constitution. members spent 1:05 reciting the entire u.s. constitution. it's the basis of our government, of course, but this is only the second time ever the entire document was read aloud in the house. >> we the people of the united states in order to form a more perfect union -- >> no person except a natural-born citizen shall be eligible to the office of president. >>> the powers to all cases of law and equity. >> full faith and credit given in each state to the public acts. >> congress shall make no law respecting an establishment of religion, the right of the people to keep and bear arms shall not be infringed. >> neither slavery nor involuntary servitude shall exist within the united s
back tax do community service, prove they have been here for an extended period of time. understand some english and become assimilated. most of them would get legal stat us and be allowed to stay in the country. congressman paul ryan is weighing in. he wrote this on his facebook page. senator rubio is exactly right on the immediate to fix our broken immigration system. i support the principle he's outlined. modernization of our immigration law, stronger security to curb illegal immigration and respect important the rule of law in addressing the complex challenge of the undocumented population. eagerness to jump onboard is bipartisan. majority leader harry reid describing the prospects for immigration reform in the months ahead. >> it is going to be first thing on our agenda. the -- majority, every senate, lists their top ten items. immigration is the number one item. we are going to do immigration. they are now -- agreed tentatively on a path of citizenship which is the big stumbling block. we may be able to come up with a bipartisan bill quicker than you think. >> it is going to m
doesn't put tax pay thornse hook for 100% of the cost of projects that are unrelated to hurricane sandy. the amendment waives the standard local cost share for what -- for, quote, ongoing construction projects. this applies to peach renourishment projects which are typically cost shared at a 65% federal, 35% local shear. while the waiving of this local cost share for this type of pradget is uns predent, i understand that for our friends in new jersey, new york, and connecticut, hurricane sandy was also unprecedented. our amendment does not change the language with respect to repairing the beaches damaged by hurricane sandy. but unfortunately, the language could be interpreted to also waive local cost share for future periodic beach replenishment unrelated to any damage caused by hurricane sandy. these typically can take up to over a 50-year period and cans to the tens of millions of dollars. i'm confident that's not what was intended by the amendment as it was offered. but the amendment is necessary to make sure that that's not how it's interpreted at some point in the future. madam cha
. mr. wilson:section 8 the congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the united states, but all duties, imposts, and excises shall be uniform throughout the united states, mr. goodlatte: i now yield to the gentleman from texas, mr. green. mr. green: to borrow money on the credit of the united states, to regulate commerce with foreign nations, and among the several states, and with the indian tribes, to establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the united states, mr. goodlatte: i now yield to the gentleman from florida, mr. nugent. mr. nugent:to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, to provide for the punishment of counterfeiting the securities and current coin of the united states, to establish post offices and post roads, to promote the progress of science and useful arts, by securing for limited times to authors and inventors the excl
in a way that they tax dollars are used efficiently and effectively. i'm offering three amends which i think capture the spirit of doing this appropriately to help the devastated communities rebuild stronger and safer, while protecting the taxpayers. first, congressman campbell and i have submitted amendment number 29 that would clarify the language in the amendment about the nonfederal share for ongoing construction projects unrelated to hurricane sandy. now, historically, each renourishment is controversial. how much should we invest in this, and we have settled on a split. 65% federal, 35% state and local or private. we raised that. that's unprecedented. but so be it. may be unprecedented circumstance. but the language in the amendment does not make it clear that we're -- that this is a one-time only shot. projects like this, for long-term beach construction, can last up to 50 years. and i think it would be a great mistake if somehow there's ambiguity in this law that would put the federal taxpayer on the hook for decades to come. i hope it's a drafting error, but i would hope that
connection. and, in fact, that they would -- because they are not required to pay a state tax on the service connections, they would decrease the cost of our service connection by the cost of that tax, which is rough life $650,000. and their service connection would be subject to the same refunds as the pg&e service connection. so that we're at a very equitable basis, but realizing about a $650,000 initial savings on cost of service. it's worth noting also that the puc has additional energy-efficiency rebates that they have indicated that the transit center might be eligible for above and beyond those offered by pg&e. and that puc primarily, because they are primary hetchy and solar power that they are 100% greenhouse gas-free service to the tjpa. so in summary, the sfpuc is offering us an ongoing service rate that would be 10% lower than pg&e's. an initial cost of connection that is again roughly $650,000 less than pg&e's. and has a comparable level of reliability of service. and so the recommendation is that the board authorize staff to negotiate an agreement with puc. >> thank you. act
a look at the results of the survey. i have for you as a copy, in your binder, the tax and treasurer's office has modified their business registration form. it's now a one-page form and it includes the sb1186, sb 1186 requires that each local municipality collect a dollar per business registration or license to go towards inspection or inspectors, mostly with the municipality department of department of building inspection and also for ongoing outreach education, helping businesses in compliance with their construction-related accessibility improvements. of the dollar, $0.70 is to stay in the local municipality. $0.30 goes to the state. 5% of that $0.70 goes to administering and processing of collecting the dollar and the rest of the 65% comes back to working on inspectors and helping get inspectors become inspectors with the department of building inspection and our outreach education ongoing and helping businesses comply with the construction-related accessibility requirements. so dbi and i have started a conversation just about how we're going to be constructing working with the
cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here in time for tomorrow morning. tomorrow morning very cold once again. lows sinking back into the 20s and 30s. if you're just joining us, freeze and frost advisories once again, freeze for our inland valley location,, that frost will be with you as you start the day, perhaps even a little bit of black ice. tomorrow morning 27 in santa rosa. upper 20s in concord. 27 in fairfield, freezing in san jose. below fr
for these new economic changes. we have given economic tax breaks for the new companies starting up in the city; we have changed our business taxes well. a lot of these changes are changes that affect big business in san francisco but we need to do more to make sure that we support every day businesses. we are seeing higher income people; (indiscernible) i really believe that san francisco needs to do something deliberate, specific that measures how people on the bottom rung are getting by in a better way. it's not enough that we just serve the wealthy interest; we make sure that as we do that that we support the people that i getting by not as much of the city. i was at dc about two months ago, i went to a lot of different monuments, really beautiful statues, beautiful buildings, the lincoln memorial, actually passed the lincoln memorial onto the franklin delano roosevelt memorial. something struck me there, quote from fdr: the test about progress is not whether we add more to those who have enough but whether we provided enough to those who do not have enough. we want to make s
of the public and decisions being made about what to spend on, what do tax and so on, are difficult and contentious issues that will take some time to address. >> those issues are not the specific purview of the fed, so why don't we shift gears and talk about some of things the fed is doing and might do. perhaps a way to introduce that is to say that the fed has been keeping interest rates at close to zero since roughly 2008. it has done a pretty deep into its arsenal of very unconventional policies recently in terms of the very massive asset purchases. recently launched its third round, which tended to bring long-term interest rates. can you tell us how well you think that is working? >> to go back one step, as you said, we have brought the short- term interest rates down almost to zer. for years monetary policy involved moving overnight interest rates up and down and open the rest of the interest rates would move in sympathy. then we hit a situation in 2008 where we had brought the short- term rates down as far as it could go, almost to zero. the question is what more could the fe
't know where we were in taxes, people selling off lots of things, not knowing where capital gains were going to go. now that money is hot. it needs a place to go. people are not thinking interest rates are the place. they are thinking the stock market. they're looking for dividend returns and appreciation. and so far, that is what they are getting. so even on the brakes in the stock market, we are seeing new money flows - big new money flows - coming into the market now. and that will probably continue another week or two. then we'll get back to what i call more normal trading. > commodities traders are on their toes these days, especially with the crop news that has been coming in - we have drought issues, cold issues, and frost issues over in california. what is happening? > > one of the amazing things is, normally when you get a report - we did on friday on final acreage so you can figure out your supplies to a large degree, you often get a limit move one way or the other. they did this report at 11:00 in the session. brand new time. the market did go limit. but i was amazed today,
to the people of california and measure to approve the voters wrestle for voter transportation special taxes from two thirds to 55 percent. sca 9 is a little bit of a variance on that. it too would seek to reduce the voters threshold from two thirds to 55 percent. for economic development projects. those are not well defined in the bill yet. there is a lot of work to be done on this measure so we recommended watch. however for the two local sales tax measure bills we recommended support position. i can take questions here. i have a quick budget overview. >> what you get that update in that we will take questions. >> last week the governor release figures for the 2013-14 budget. legislative analyst said it's a reasonable budget. for the first time in recent memory you have a balanced budget in effect with a good chance of remaining in balance. the risk are mostly what might happen from the federal government and cost impact that might flow to the state in a couple of minor risks. they stamped it "prudent. " first time i've seen that in 15 years. in the world transportation one of th
at the end of the day we're accountable to the tax payers and the rate payers of city and county of san francisco. >> thank you president torres. just a clarification on the action item before us if there is one or for the later meet something. >> the sfpuc commission agenda provides for them to discuss and take action, so our understanding is that the commission secretary would call the roll for the sfpuc so that they could vote on this agenda item for lafco it was just a discussion item. >> thank you. commissioner vietor. >> yes and i appreciate all the public comments that have been made and the comments too from this body and all of the work that the puc has done. i have been on the public utilities commission for four years plus and i know this cleanpower sf issue -- i think it's been eight years, nine years in the coming, and when i came on there was really this sort of sense that the puc wasn't stepping up, that the city didn't care that we weren't moving quickly enough and he we are at this opportunity to really move things forward. i think it's really remarkable and i think
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